31-07-2012

Singapore Refining goes live with Meridium asset performance management system

Meridium Inc, the global leader in asset performance management (APM) software and consulting solutions, has been selected by Singapore Refining Company Private Limited (SRC) as the platform to integrate and support its mechanical integrity initiative.

Based on a detailed plant assessment, SRC identified an opportunity to better manage cost and risk around asset integrity management by facilitating ease of capturing and reporting critical inspection data with an integrated APM system. “With Meridium, we were able to integrate and migrate critical inspection data from multiple disconnected systems into a single APM platform, which is critical for our reporting and compliance requirements,” said Eddy Yew, SRC Inspection & Reliability Manager.

By leveraging on Meridium Packaged Solutions for a cost efficient implementation during the initial scope of the project, SRC had deployed Meridium’s APM Foundation and Mechanical Integrity modules with associated work processes. The Meridium APM Foundation work process provides the framework for an integrated approach, including the use of existing data and structures from other systems, such as the IBM Maximo® interface. In addition, the APM Foundation elements provide performance data in the right context, enabling faster, more accurate identification of opportunities for improvement efforts. The Meridium Mechanical Integrity work process includes tools for risk based inspection and inspection management that provide better means in preventing loss of containment, mitigating risks and optimizing costs for fixed equipment at SRC.

SRC also implemented Meridium’s Asset Strategy Management (ASM) and Asset Health Indicators (AHI) solutions, which provide a more advanced, risk-based approach to optimizing their inspection and maintenance strategies using data from a common, integrated platform.

“With Meridium’s proven, integrated technology and work processes, SRC can expect to see  greater inspection compliance, lower risk and ultimately greater plant reliability and utilization,” according to Greg Horrell, Meridium Managing Director for the Asia-Pacific region. “SRC’s choice of Meridium to support their overall APM and mechanical integrity efforts affirms our position as the global APM technology and services provider of choice.”